The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 50 and GBP/USD failed to reclaim the 50-period Simple Moving Average (SMA) despite the earlier rebound, reflecting buyers' hesitancy.
GBP/USD faces a key support level at 1.3270 (Fibonacci 23.6% retracement of the latest uptrend, 100-period SMA) before 1.3200 (static level) and 1.3165 (Fibonacci 38.2% retracement). Looking north, resistances could be seen at 1.3330 (50-period SMA), 1.3400 (round level, static level), 1.3440 (static level)
The tepid rebound in the Greenback now motivates GBP/USD to surrender part of its earlier advance and receded to the area below the key support at 1.3300 the figure in the latter part of Friday’s session.
GBP/USD faces a key support level at 1.3270 (Fibonacci 23.6% retracement of the latest uptrend, 100-period SMA) before 1.3200 (static level) and 1.3165 (Fibonacci 38.2% retracement). Looking north, resistances could be seen at 1.3330 (50-period SMA), 1.3400 (round level, static level), 1.3440 (static level)
The tepid rebound in the Greenback now motivates GBP/USD to surrender part of its earlier advance and receded to the area below the key support at 1.3300 the figure in the latter part of Friday’s session.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.